SunTrust Banks Analysts Give PNM Resources (PNM) a $34.00 Price Target

PNM Resources (NYSE:PNM) has been assigned a $34.00 target price by SunTrust Banks in a research report issued to clients and investors on Monday. The firm currently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ price target suggests a potential downside of 1.31% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. UBS Group began coverage on shares of PNM Resources in a research report on Friday, February 2nd. They issued a “sell” rating and a $36.00 price objective on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $40.00 price objective on shares of PNM Resources in a research report on Thursday, February 1st. Mizuho raised shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $37.00 price objective on the stock in a research report on Tuesday, January 23rd. Zacks Investment Research downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Bank of America began coverage on shares of PNM Resources in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $38.00 price objective on the stock. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.38.

Shares of PNM Resources (PNM) traded down $0.55 during trading on Monday, hitting $34.45. 106,985 shares of the stock were exchanged, compared to its average volume of 884,658. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.43 and a current ratio of 0.53. PNM Resources has a 52-week low of $33.75 and a 52-week high of $46.00. The stock has a market cap of $2,787.88, a P/E ratio of 17.34, a P/E/G ratio of 3.49 and a beta of 0.26.

A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its stake in PNM Resources by 0.3% in the 2nd quarter. New York State Common Retirement Fund now owns 137,079 shares of the utilities provider’s stock worth $5,243,000 after purchasing an additional 395 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PNM Resources by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 1,399 shares in the last quarter. Bessemer Group Inc. boosted its stake in PNM Resources by 15.7% in the 3rd quarter. Bessemer Group Inc. now owns 11,059 shares of the utilities provider’s stock worth $446,000 after purchasing an additional 1,500 shares in the last quarter. Flinton Capital Management LLC boosted its stake in PNM Resources by 71.4% in the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after purchasing an additional 1,840 shares in the last quarter. Finally, ING Groep NV boosted its stake in PNM Resources by 23.2% in the 4th quarter. ING Groep NV now owns 12,019 shares of the utilities provider’s stock worth $486,000 after purchasing an additional 2,264 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.

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About PNM Resources

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

Analyst Recommendations for PNM Resources (NYSE:PNM)

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